Is Life Insurance Guaranteed?
The insurance contract is simply a promise to pay a death benefit as long as you keep paying your premiums. Bernie Madoff promised to pay back his investors and look what happened. His investors got little to nothing back. A contract, a promise or a guarantee is only as good as the company making it. Rest assured there are some steps you can take before you purchase life insurance. When selecting life insurance you, or your agent, should spend some time researching the stability of the company. Life insurance companies are regulated at the state level and all states have an insurance division...
Read MoreWhy you need to check your beneficiaries.
Today’s post is short and sweet: Update Your Beneficiary Today! This applies to not only your life insurance but also all of your other financial accounts. I can’t tell you how many times over the years I am doing a review with a client or prospect and when I mention who the beneficiary is on their account I get the response: “What! Your kidding me. I don’t want them to get any of my money!” A beneficiary is the person you list on your insurance and financial accounts who will receive the proceeds should you pass away. You can select anyone: your spouse, a...
Read MoreDisability Insurance Primer
Disability insurance is a topic that doesn’t get enough coverage and one item that many people overlook. Disability insurance provides income in the event you suffer a disability that prevents you from working. It provides you money to pay for the mortgage or rent, food, health care and other necessities of life. Disabilities can occur because of an accident or sickness. You don’t hear much about disabling accidents or sicknesses in the US but they occur very frequently. In fact the risk of disability is greater than the risk that you suffer a premature death.Just like term...
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